Asset Homes to invest Rs 1,500 cr in Kerala

Asset Homes in Kochi has targeted to invest Rs 1,500 crore in the next three years. The group is also planning to launch 20 new housing projects during the financial year 2013-14 with an investment of Rs 500 crore and has identified major cities and towns.

There will be 1,800 apartments in these projects, which would come up at Kochi, Thiruvnananthapuram, Kottayam, Kannur, Kozhikode, Kollam, Guruvayoor, and Thiruvalla among others, said V Sunilkumar, its Managing Director. The company also plans to construct 120 villas at Aluva, Thripunithura, near Kochi, and Thrissur.

Sunilkumar said they had identified 50 locations across the country for their 'affordable housing' project. This was scheduled to complete in a phased manner in five years. In the first phase, apartments will be constructed at 10 locations, mainly in the southern part of India. The first project will be launched in October. The average cost of apartment would be Rs 20-25 lakh targeting mainly the lower middle-class. It estimates an investment of Rs 400 crore for this.